Claims

 Our Claims Philosophy

AEGON Religare Life Insurance is committed as a responsible life insurer to pay out all genuine claims, while reserving the right to repudiate fraudulent claims. As a company, our philosophy is in closing the claim rather than keeping it open. We are here to service all the needs of our customers, including claims.

Our sole objective is to provide professional and fair service and meet our customer’s needs by prompt and efficient payment of all valid claims by:

• Paying valid claims quickly and efficiently and support the claimant at every step.

• Responding to all customers within the relevant service standards

• Assessing claims in a consistent, fair and objective manner

• Adhering to the relevant claims legislation, industry codes of practice, IRDA rules and Ombudsman standards.

What points should you keep in mind to ensure a hassle-free claim experience?

All you need to do is be honest and accurate and make full disclosure of relevant facts at the time of buying the policy. You need to ensure a few critical things like:

• Fill the proposal form your self and vet the information for accuracy and correctness in case of spelling of your name, date of birth, contact details, policy details.

• Disclose all facts with regard to your health and be truthful about your tobacco and alcohol consumption. An affirmative declaration does not mean that your policy will be rejected.

• Double-check details with regard to your nominee. Ensure that your nominee knows the details of your policy such as sum assured, policy term. Also keep your policy bond in a safe place and ensure that your nominee knows where the original policy bond is stored.

• Pay your premiums regularly so that Policy is in force.

What do you need to do at the time of buying the policy, to ensure a positive claim experience?

In order to ensure that the claim does not get rejected, one needs to ensure, at the time of buying the policy, to provide with correct, accurate and complete responses, disclose all material facts to the Company and ensure that all the documents submitted (E.g. Age Proof, Income Proof etc) along with the proposal form are genuine.

After receiving the policy document, check for accuracy and completeness of the following details in the proposal form:

• Name, age and contact details

• Nominee details

• Income details

• Insurance policy details.

• Medical history.

If there is any incomplete or inaccurate information in the document, contact us immediately.

What are the most common reasons why claims get rejected?

Most of the claims get rejected due to reasons like:

• Fraud which is a deliberate and intentional attempt to cheat by submitting false claims. For example, submitting a death claim when the insured person is still alive or vice versa

• Non disclosure of existing disease or medical condition at the time of buying the policy

• Non disclosure of lifestyle attributes like tobacco and alcohol consumption at the time of buying the policy

• Commit suicide within the first policy year

• Non-payment of premium which means your policy is in lapse status

 Claim Process

Our three-step claims process is designed with a clear objective to settle all valid claims with minimal trouble to our customers and in the least possible time.

STEP 1 – Claim Intimation and Registration

Submit duly completed claim forms and other documents at the nearest AEGON Religare Branch Office or at our Head Office. Please click on the below links to see/ download the requirement list, claim forms and to locate our nearest branch office.

List of ARLIC Claim requirements as per the Claim type. Click here to download

ARLIC Branch Locator

Downloadable Claim Forms     Forms required for intimation of natural death claim 1. Intimation Form 2. Application Form Forms required for intimation of accidental death claim 1. Intimation Form 2. Application Form Forms required for intimation of ADDD claim 1. Intimation Form 2. Application Form 3. Hospital Treatment Certificate/APS   Forms Required for Intimation of CI Claim 1. Intimation Form 2. Application Form 3. APS 4. Hospital Treatment Certificate

STEP 2 – Payment of Fund Value

AEGON Religare Life Insurance aims at providing immediate support to its customers and their dependents in the unfortunate event of the demise of their loved ones. By virtue of this philosophy, we will payout the fund value accrued under the policy immediately to the beneficiaries as on the date of intimation of death (I.e. upon submission of all the documents mentioned in the requirement list as per the type of claim)

STEP 3 – Settlement/ Benefit Payout

Upon receipt of the complete set of documents (as mentioned in the requirement list), we will commence the claims process immediately. In case of any clarifications / further requirements, we will get in touch with you. Upon verification of the documents, if all the documents as per the requirements are received and are found to be in order, we will release the balance/ complete death/ rider benefit amount to you/ beneficiary subject to all other terms and conditions of the contract being fulfilled.

Below is the diagrammatic representation of our claims process.

 Claims Assistance

For any assistance, please do not hesitate to get in touch with us at:

Claims Department

AEGON Religare Life Ins. Co. Ltd.

Nomura, B-Wing, First Floor, Unit No 102

Near D Mart, Hiranandani Business Park

Hiranandani Garden, Powai

Mumbai 400076

 Claims FAQs

Claims FAQs

* Terms & Conditions with respect to Fund Value

• Applicable only for Unit Linked Plans where Fund Value has accrued under the policy.

• Claim intimation should be supported by the death certificate

• Fund value means the market value of the units (excluding sum assured and any other death benefit) as on the date of receipt of intimation of death after deducting applicable charges as per 'policy contract'

• For any claim intimation received after 3.00 p.m., on any working day, the date of intimation would be reckoned that of the next working day

• Cases where policy is in "lapse" status as on the Date of Death OR for cases were Claimant is other than beneficiary as per the Company records, are excluded.

• Payment of Fund Value does not in any way indicate acceptance of any liability or admissibility of the payment of the sum assured or other death benefits under the said Policy by the Company.

• In case of sum assured being greater than the fund value, the fund value will be paid out upon intimation and the differential amount, if any, subject to terms and conditions of the policy, will be released on a later date

• Investments in ULIPs are subject to market risks, for more details on risk factors. Please read the product brochures carefully before concluding a sale